Word: pensioner
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Mandigo says there are merchant bankers, insurance companies and pension funds looking for places to park their cash that might view Hyatt as a smart investment. "This is something that's fresh, has a strong name behind it, and a good reputation in the industry," he says. "It's kind of like an oasis in the desert in terms of investment opportunity...
...file workers and, when they die, reap millions in tax-free payouts. To support his position that airlines are risking catastrophe by underpaying their pilots, he excerpts the Congressional testimony of Hudson River hero Chesley Sullenberger, who notes that his pay had been cut 40% and he lost his pension. In an episode that might have come from a Dickens novel, Moore tells of two Pa. judges who shut down a state-run detention center and sentenced children, some for the most minor of infractions, to a facility run by a private company that kicked back millions to the judges...
...Moreover, as Japanese must rely on private savings as their biggest cushion when times are tough, they tend to save more than they would otherwise. Even workers eligible to receive government benefits cannot rely on the public pension system for adequate retirement funding. In short, this thin social safety net perpetuates the population decline and prevents private consumption from rising to offset the shrinking number of consumers. You can't expect the population and the economy to grow by guaranteeing survival to only the oldest workers and businesses while subjecting everyone else to market forces...
...collapse. Lear filed for Chapter 11 bankruptcy protection a month ago, citing the need to restructure $3.6 billion in debt. Meanwhile, Delphi, a former GM subsidiary based in Troy, Mich., and that automaker's biggest parts supplier, emerged from bankruptcy protection in June after unloading $6.2 billion in pension liabilities on the Pension Benefit Guaranty Corp. (PBGC), a U.S. government agency whose job is to protect private pension plans. (See the 50 worst cars of all time...
...than 2% of the country's total population, compared to 12% in the U.S. Although dependent on the type of industry, one robot can replace several workers, music to the ears of many government officials who know that the nation's declining work force will weigh heavily on future pension and health care programs...